4//SEC Filing
Bourque Michael R Jr 4
Accession 0001493152-18-004611
CIK 0000873860other
Filed
Apr 1, 8:00 PM ET
Accepted
Apr 2, 9:39 PM ET
Size
15.1 KB
Accession
0001493152-18-004611
Insider Transaction Report
Form 4
Bourque Michael R Jr
Executive Vice President & CFO
Transactions
- Exercise/Conversion
Common Stock
2018-03-29+21,250→ 86,131 total - Exercise/Conversion
Common Stock
2018-03-29+21,667→ 70,157 total - Tax Payment
Common Stock
2018-03-29−5,174→ 80,957 total - Exercise/Conversion
Restricted Stock Units
2018-03-29−21,250→ 42,500 total→ Common Stock (21,250 underlying) - Tax Payment
Common Stock
2018-03-29−5,276→ 64,881 total - Exercise/Conversion
Restricted Stock Units
2018-03-29−21,667→ 21,666 total→ Common Stock (21,667 underlying)
Footnotes (5)
- [F1]Each Restricted Stock Unit represents a contingent right to receive one share of OCN common stock for no additional consideration.
- [F2]Shares withheld pursuant to terms of the award to cover tax withholding obligations.
- [F3]On March 29, 2016, the reporting person was granted 65,000 restricted stock units scheduled to vest in three annual installments of 21,667, 21,667 and 21,666, respectively, commencing March 29, 2017, subject to the reporting person's continued employment.
- [F4]The Restricted Stock Units have no expiration date.
- [F5]On March 29, 2016, the reporting person was granted 85,000 performance-based restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The grant provided that if, on or before the fourth anniversary of the transaction date of March 29, 2016, the average of the closing prices per share of OCN Common Stock for a period of twenty consecutive trading days, plus the amount of any dividends paid on a share of OCN Common Stock on or before the last day of that period, equaled or exceeded $4.78, the restricted stock units would vest in four annual installments on the first, second, third and fourth anniversaries of March 29, 2016. This performance-based condition was satisfied on November 30, 2016. As a result, this award is scheduled to vest in four annual installments of 21,250, 21,250, 21,250 and 21,250 commencing March 29, 2017, subject to the reporting person's continued employment.
Documents
Issuer
OCWEN FINANCIAL CORP
CIK 0000873860
Entity typeother
Related Parties
1- filerCIK 0001609091
Filing Metadata
- Form type
- 4
- Filed
- Apr 1, 8:00 PM ET
- Accepted
- Apr 2, 9:39 PM ET
- Size
- 15.1 KB